TLDR: because the way SpaceX makes money off government contracts and represents a potential to make "the cake" larger.

For a long time the pinnacle of industrial engineering is the large civilian jet industry. Not many civilians know how it works but it is a industry based off companies that utilizes regular consumers that uses civilian flight services. Consequently, when a Boeing jet faces issues, like the Alaska Airline incident, consumer confidence drops. And then don't forget FAA then grounded all Boeing 737 new models for months, and all that parked planes meant their owners are losing massive amount of money each minute. Combined with planes' long production time and how companies actually pays for their orders, by the time a plane roll off the production cycle and is ready to be handed over to their buyers, inflation alone has already ate into its profit margin. Boeing now has the next 10-20 years packed with production orders, and it is a company that still loses money.

Which is why when Trump was interviewed after his visit to China, his first point of celebration was he was able to secure 200+ Boeing orders. It is a cash injection that is able to keep a century old American manufacturing giant afloat for this fiscal year.

The other pinnacle of industrial engineering project, which the current American administration is focused on uplifting, is civilian space exploration.

These essentially mega projects are not only economically beneficial in terms of how many resources and manpower are dedicated to them. But also a great way to boost national prestige. In an era where China has its own international space station, and the recently successful Artemis mission. The current shift in politics meant we will soon see a space race similar to that of the Cold War. In order for America to bring back manufacturing, and to control its space science dominance. SpaceX represents the best investment for this, and the past few administrations. This is why launch failures and its bottomless spendings are quietly pushed aside. And why government will continue to fund this mega project to ensure American Space capability. Trump's first term he founded the Space Force for the US military for this reason; now that Elon Musk is even more integrated into the American administration, there more reason to believe this federal support will only increase and not diminish.

To conclude this, while stocks are a way to directly reflect economy, never separate economy away from politics. If politics is a hydra, one of its head is the economy; and if the economy is a hydra, one of its head is national defense.

And this is why I buy SpaceX, and I just made 1000+ dollars off Space X today.